Kabbage
Kabbage offers a line of credit designed to provide working capital for business owners who need
quick access to capital.
Excellent 9.3/10
2,790 reviews 

Kabbage underwrites your loan by reviewing any of the following synced accounts: a business checking account, eBay account, Paypal account, Amazon lender account, Etsy account, Yahoo account, Square account, Authorize.net account, Sage account, Stripe account, Quickbooks account, or Xero account.

Unlike traditional lenders, Kabbage underwrites their products by reviewing business data, not just credit score. And in general, the more accounts you can link to your Kabbage application, the more business data and information Kabbage can use to underwrite your line of credit.

NO AFFECT TO YOUR CREDIT SCORE

What DOES kabbage

OFFER?

Kabbage offers a line of credit designed to provide working capital for business owners who need quick access to capital.

What Do I Need to Qualify?

  • Annual Revenue: $50,000+

  • Credit Score: No Minimum

  • Business Age: 12 months

  • Profitability: No

 

HOW DO I APPLY?

To keep the application and funding process fast and efficient, Kabbage’s underwriting process is fully automated.

Kabbage underwrites your loan by reviewing any of the following synced accounts: a business checking account, eBay account, Paypal account, Amazon lender account, Etsy account, Yahoo account, Square account, Authorize.net account, Sage account, Stripe account, Quickbooks account, or Xero account.

Apply Here with Kabbage

Kabbage Financing at a Glance

Kabbage is a good option for business owners who need a quick infusion of capital. Your line of credit can be funded instantly, giving you working capital for any business purpose the same day you apply. Kabbage is also an option for small business owners who don’t qualify for other business loans. Kabbage will check your personal credit score, but it doesn’t weigh your score as heavily as other lenders do. Instead, they’ll consider any business data from the accounts you link to your application.

loan amount

$2,000 to $100,000

Loan Term

6 - 12 months

LOAN rates

Kabbage charges a flat monthly fee of 1.5% to 12% on your remaining loan amount

speed

Kabbage can fund loans as quickly as same day and as long as 5 - 7 business days (depending on the documentation required).

Kabbage cannot work with the Business types below:

  • That are non-profits

  • That have high balances outstanding with other lenders

Other Important Eligibility Factors for Kabbage:

  • Kabbage will only fund businesses with a minimum average bank balance of $2,500.

  • Kabbage can work with business owners who have declared personal bankruptcy once at least 1 year has passed since discharge. Eligibility is determined mostly on a case-by-case basis.

  • Kabbage will only approve borrowers who can prove at least a meaningful connection to the business in question.

  • Kabbage will consider your personal credit score, but they do not set a minimum score to be eligible.

  • Kabbage does not look at your business credit score.

  • Kabbage will not consider borrowers who have more than 3 non-sufficient fund transactions in a 90 day period.

  • Kabbage requires that borrowers have a checking account open, but no particular accounting platform is required. If you are using an accounting software, you must be using it for 3 months to be eligible for a Kabbage line of credit.

You’ve Reviewed Kabbage.

Are You Ready to Apply?

Getting Started With Kabbage 

Kabbage is dedicated serving small business owners who need financing as quickly as possible. To keep the application and funding process fast and efficient, Kabbage’s underwriting process is fully automated.

Kabbage underwrites your loan by reviewing any of the following synced accounts: a business checking account, eBay account, Paypal account, Amazon lender account, Etsy account, Yahoo account, Square account, Authorize.net account, Sage account, Stripe account, Quickbooks account, or Xero account.

Unlike traditional lenders, Kabbage underwrites their products by reviewing business data, not just credit score. And in general, the more accounts you can link to your Kabbage application, the more business data and information Kabbage can use to underwrite your line of credit.

Once you’ve submitted an application with Kabbage, you won’t need to speak with any Kabbage representative during the underwriting process. Note that in some cases, Kabbage might request certain documents to verify an application or review and application manually.

After Kabbage has received a full application, it can take anywhere from minutes to 3 - 5 business days to approve an offer. If you choose to accept the offer, you’re given instant access to the funds.

Most Customers who qualified had 

Annual Revenue
$50,000+
Time in Business
Over 12 Months
Credit Score
No Minimum 

What your business will need to apply? 

  • 3 months business bank statements

  • Copy of your driver’s license

  • Voided business check

Find out how much funding you qualify for with Kabbage

What you should know about Kabbage

  • Kabbage can fund loans as quickly as same day and as long as 5 - 7 business days (depending on the documentation required).

  • Kabbage collects repayment by automatic monthly payments.

  • Kabbage will do a hard credit pull from Experian during the third and final step in the application process. Kabbage will ask the borrower to consent to a credit check at this point in time. Learn more about credit pulls here.

  • Kabbage does not require a personal guarantee to secure a line of credit.

  • Kabbage does not charge an origination fee.

  • Kabbage doesn’t have a prepayment penalty, but there is a late payment fee.

  • Kabbage will file a blanket UCC lien on your business when you receive funding from them.

  • Kabbage does not report to the personal credit bureaus or the business credit bureaus.

  • If a borrower applies and is denied, he or she must wait 6 months to 1 year to reapply with Kabbage.

  • Kabbage can take 2nd position in some cases, but they will only consider borrowers who have paid most of their other loan down.

Want to know if you Qualify for a

Business Loan with Kabbage?

Kabbage Reviews: The Underwriting Process

Kabbage is dedicated serving small business owners who need financing as quickly as possible. To keep the application and funding process fast and efficient, Kabbage’s underwriting process is fully automated.

Kabbage underwrites your loan by reviewing any of the following synced accounts: a business checking account, eBay account, Paypal account, Amazon lender account, Etsy account, Yahoo account, Square account, Authorize.net account, Sage account, Stripe account, Quickbooks account, or Xero account.

Unlike traditional lenders, Kabbage underwrites their products by reviewing business data, not just credit score. And in general, the more accounts you can link to your Kabbage application, the more business data and information Kabbage can use to underwrite your line of credit.

Once you’ve submitted an application with Kabbage, you won’t need to speak with any Kabbage representative during the underwriting process. Note that in some cases, Kabbage might request certain documents to verify an application or review and application manually.

After Kabbage has received a full application, it can take anywhere from minutes to 3 - 5 business days to approve an offer. If you choose to accept the offer, you’re given instant access to the funds.

Kabbage Reviews: Post-Funding

Once funded, you can pull from you line of credit as often as once a day. As with most line of credit products, you’ll only pay on what you pull from the pool of funds.

Before you draw from your line of credit, Kabbage will inform you of your first payment date before you decide to pull from the credit line. Once you actually draw from your line of credit, Kabbage will give you a monthly repayment schedule (either 6 or 12 months) with a set due date. Kabbage automatically collects repayment from your account. You’ll be able to review your payment plan and schedule on an online dashboard.

When you’re approved for your Kabbage line of credit, you’ll be given a set monthly fee that will be charged on the amount borrowed. Your monthly fee ranges from 1.5% - 12%, but your exact rate depends on the data from the accounts you linked, your annual revenue, time in business, and your credit score. For the first two months of repayment, your monthly fee is 1.5% to 12% of the total amount you borrowed. For the remaining months, you pay a fee of 1% on the total amount you borrowed.

Kabbage doesn’t charge a prepayment fee if you choose to pay early. In fact, you can actually save on monthly fees if you are able to repay early. However, Kabbage takes the largest chunk in fees in the first two months, so repaying early won’t save you much.

Kabbage offers a revolving line of credit. So once you pay them back in full, your line of credit is refilled to its original amount and you can keep drawing on it.

Kabbage Reviews: Why Work With Them?

 

Kabbage is a good option for business owners who need a quick infusion of capital. Your line of credit can be funded instantly, giving you working capital for any business purpose the same day you apply.

Kabbage is also an option for small business owners who don’t qualify for other business loans. Kabbage will check your personal credit score, but it doesn’t weigh your score as heavily as other lenders do. Instead, they’ll consider any business data from the accounts you link to your application.

Kabbage Reviews: When Are They Not a Fit?

Kabbage can give you fast and easy access to capital, but they’ll charge you for it. If you’re approved for a line of credit with a monthly fee on the higher end of the spectrum, your APR can skyrocket up to over 100%.

On top steep APRs, Kabbage doesn’t report to the personal or business credit bureaus. If your credit is struggling, you’ll want to work with a lender who reports your good borrowing behavior on your business loan to the credit bureaus—it’s the only way to build your credit score.

In general, you should always take the lowest-cost loan available to you. So if you can qualify for a cheaper option, consider that over a Kabbage line of credit instead.

The information contained on this page was sourced from fundera.com. We are not in anyway affiliated with fundera.com.This page is for informational purposes only.

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